Stimulus Plan Now Includes Tax Break for Home Buyers

In an effort to stimulate the struggling housing and real estate markets, congressional leaders have agreed to include an aggressive $15,000 tax cut for new home buyers as part of the Obama stimulus package. Already admitting that his stimulus plan is by no means "perfect", Obama is pressing hard for quick passage of the plan to avoid what he is calling potentially catastrophic consequences. The rush to push the legislation through is happening at a time when the new president is also forced to deal with the PR damage being done to the bailout packages by financial firms who seem intent on very lavish - and very public - spending sprees.

New legislation from the Obama administration is going to limit the salaries of top executives in financial firms that received billions in government aid to a mere $500,000 per year. And while that number is certainly astronomical to the majority of Americans, it is going to have a major impact on the personal cash flow of top executives at financial firms.

Certainly, provisions will be in place for these top execs to get alternative compensation in order to maintain a semblance of their established lifestyles, but there will be an impact felt. And more importantly for the Obama administration, the public will be under the impression that there is at least a cap on the salaries of the business leaders who drove the country into its current financial crisis.